National Bank (NYSE:NBHC) Cut to “Market Perform” at Hovde Group

Hovde Group cut shares of National Bank (NYSE:NBHC) from an outperform rating to a market perform rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have $55.00 price objective on the financial services provider’s stock.

NBHC has been the topic of a number of other research reports. Stephens boosted their target price on National Bank from $46.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. DA Davidson boosted their price objective on shares of National Bank from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com cut shares of National Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Piper Sandler boosted their price target on shares of National Bank from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of National Bank from $39.00 to $45.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.00.

National Bank Trading Down 1.6 %

Shares of National Bank stock opened at $47.81 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $1.82 billion, a P/E ratio of 14.80 and a beta of 0.84. National Bank has a 1 year low of $32.13 and a 1 year high of $51.76. The company’s fifty day moving average is $43.59 and its two-hundred day moving average is $40.76.

National Bank (NYSE:NBHC) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. The firm had revenue of $156.39 million for the quarter, compared to analyst estimates of $102.32 million. National Bank had a return on equity of 9.93% and a net margin of 20.52%. During the same quarter last year, the company posted $0.94 earnings per share. Analysts forecast that National Bank will post 3.18 earnings per share for the current year.

National Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.29 per share. This is a positive change from National Bank’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.16 annualized dividend and a dividend yield of 2.43%. National Bank’s payout ratio is 34.67%.

Insider Activity at National Bank

In other news, insider Valerie D. Kramer sold 1,275 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $49.62, for a total value of $63,265.50. Following the completion of the transaction, the insider now owns 10,652 shares in the company, valued at $528,552.24. This trade represents a 10.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO G. Timothy Laney sold 16,063 shares of National Bank stock in a transaction on Monday, August 26th. The stock was sold at an average price of $43.34, for a total value of $696,170.42. Following the transaction, the chief executive officer now directly owns 256,026 shares of the company’s stock, valued at $11,096,166.84. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,522 shares of company stock valued at $2,380,956 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NBHC. Innealta Capital LLC purchased a new stake in National Bank in the 2nd quarter valued at approximately $41,000. Meeder Asset Management Inc. purchased a new stake in shares of National Bank in the second quarter valued at $52,000. Assetmark Inc. purchased a new stake in shares of National Bank in the third quarter valued at $71,000. Atria Investments Inc acquired a new stake in shares of National Bank during the third quarter valued at $202,000. Finally, Choreo LLC purchased a new stake in National Bank during the 2nd quarter worth about $209,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

About National Bank

National Bank Holdings Corporation operates as the bank holding company for NBH Bank that provides various banking products and financial services to commercial, business, and consumer clients in the United States. It offers deposit products, including checking, savings, money market, and other deposit accounts, including fixed-rate and fixed maturity time deposits.